Over the last month AC8 SP up approx. 231% and MXC around 39%. Even taking into account a 15% dilution from the CR there has to be more in it than just licensing holding back the SP. A substantial credibility gap seems to be opening up here. For a market that is supposed to be hot to trot, something is not jelling.
With all this companies expertise its hard to believe that it is taking so long to submit a proposal to the ODL where others have succeeded for at least import licensing, let alone having one in the system being processed?
One thing is for sure, is that once they do get authorization to import, cultivate, extract and distribute then we could see the SP move to at least 17c per share quite easily. Would be nice to get an announcement around where they are in that process. ie: MXC has made an application which we believe meet all the criteria of the legislation etc,
MXC Price at posting:
7.5¢ Sentiment: None Disclosure: Held
